IRIS announces officially handing over IRIS blue project to end-users and investors

United Arab Emirates, Dubai, September 17th, 2008: IRIS, one of the leading property developers in the region, officially announced handing over their, AED 310 Mn IRIS blue Project located at Dubai Marina. Iris Blue is the company's first residential development.

Mr. Ashwin Sheth, CEO of IRIS and Managing Director of Sheth Estate, commented, "We at IRIS, are very delighted with the success IRIS blue hand over has received. IRIS blue stands out for its unique architectural and unparalleled world class lifestyle it provides being located in one of Dubai's most prestigious and demanded locations. We are proud to hand over the units to our valued customers and looking forward to launching more innovative developments, to meet the evolving lifestyle of our customer base in the region."

Designed by world-renowned WS Atkins, the 33- storey residential tower,  offers 237601 sq. ft. of prime residential space consisting of 46 one bed room units, 90 two bed room units, 16 three bed room units, in addition to duplex, and three level parking podium. In addition to a double height lobby, shopping arcade with exclusive boutiques, landscape garden, children's park, an exclusive clubhouse with high tech facilities and a large swimming pool.

Strategically located at the entrance of the Dubai Marina next to Grosvenor House, IRIS blue offers 270-degree water view and is known as a unique water front development where its name and design reflects the tranquil color of water and the blue community.

"I would like to express my gratitude to IRIS for handing over my apartment on time, and in perfect condition. IRISblue is indeed the finest experience in water front living. The high level of attention and professionalism from the customer service department is also worth mentioning," said Mr. Daniel Barkanian, an end-user who was recently handed his unit.

Ms. Hana Herz, an investor and end-user, commented, "I am very pleased to have purchased a unit within IRISblue tower, which offers the picturesque waterfront views in a prime location that enhances an urban lifestyle in a holiday setting. I am looking forward to moving in and sharing this unique experience with my friends and family."

IRIS is currently working on IRIS Bay, IRIS Asmar, IRIs Amber, IRIS Crystal and IRIS Mist.

For more information about IRISblue, visit us on www.iris.ae

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About IRIS
IRIS is a brand of futuristic real estate projects designed specifically for the UAE market by Sheth, India's leading quality property developer. Launched in Dubai in 2005 the brand embodies Sheth's tradition of uncompromising dedication to quality and innovation.

IRIS is established with the time tested values of its parent corporation, Sheth, as a leading construction house actively involved in building some of India's largest communities, leisure and business complexes and high-rise towers.

Sheth's impressive portfolio boasts over 13,000 homes built, 50 projects completed and ongoing and a total of 15 million square feet developed and under development in a history spanning over 22 years. This unmatched, high-end track record has consistently built a strong and lasting bond of trust between the corporation and its clients.

IRIS made its debut with IRIS Blue, a luxury residential tower at Dubai Marina which has just recently been completed. IRIS' second project is the highly anticipated IRIS Bay, a half-moon shaped commercial building strategically located at Business Bay, facing Sheikh Zayed Road. IRIS has also launched residential developments in Culture village including IRIS Amber and IRIS Asmar. The fifth project on IRIS' calendar is IRIS Crystal, another iconic tower in the prestigious Business Bay.

For further information about IRIS, please contact:
Naim Al Sakka, Marketing Manager
Email: naim@iris.ae

© Press Release 2008